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Trevor Long said the NBN is a "political football" no one wants to touch. "It would see it as embarrassing, and it would see it threatening its surplus targets," he said.

The finance minister insists that's not the case.

"It would have an impact on our balance sheet," he said. "It would not have an impact on the underlying cash balance. "Every Australian should be concerned about the proposition that a government should make political decisions about the valuation of its assets."

With the rollout of the network due to be finished in June next year - analysts say it still has time to prove its worth. But it will be tough with existing issues to iron out and a fear not enough customers will want slow, expensive NBN services with the growth of wireless and 5G.